Visa study signals potential 1.2 billion-person APAC stablecoin adoption wave by 2031
A survey conducted by payments giant Visa indicates that nearly half of consumers in the Asia-Pacific region are open to using fiat-pegged cryptocurrencies within the next five years. While interest is growing for everyday spending and cross-border transfers, the study highlights a significant knowledge gap, with only six percent of respondents demonstrating an accurate understanding of how stablecoins operate.
Key points
- Visa survey indicates 46 percent of interviewed consumers in Asia-Pacific are likely to use stablecoins within the next five years.
- Only 16 percent of respondents reported using stablecoins in the past 12 months.
- Only 6 percent of respondents demonstrated an accurate understanding of how stablecoins work.
- Concerns regarding fraud and scams were cited as the primary obstacle for aware non-users.
What happened
Visa released the findings of a new survey examining consumer interest in stablecoins across the Asia-Pacific region. According to the study, nearly half of the region's 2.5 billion consumers are open to starting to use fiat-pegged cryptocurrencies over the next five years.
Market move
The survey reported that 46 percent of consumers interviewed are likely to adopt stablecoins within the next five years, contrasted with 16 percent who used them over the preceding 12 months. Additionally, about 49 percent believe stablecoins could emerge as a common method for cross-border money movement within five years.
Why it moved
Nischint Sanghavi, head of digital currencies at Visa’s APAC division, stated that the company observes a meaningful shift in how consumers perceive stablecoins for everyday spending, travel, and cross-border transfers. Concurrently, stablecoin providers, banks, and card networks are actively competing for market opportunities in the region.
Key numbers
The Visa study surveyed 14,250 individuals across the region. Among those surveyed, 49 percent of respondents aware of stablecoins believed they were strictly used to buy and sell other cryptocurrencies, while only 6 percent demonstrated an accurate understanding of their functionality.
Why it matters
The findings underscore a widespread interest in stablecoins across a major consumer market, alongside a profound education gap that payment networks and financial institutions must navigate to drive adoption.
What we know
- Visa conducted a survey of 14,250 people in the Asia-Pacific region.
- The study reported that 46 percent of interviewed consumers are likely to use stablecoins within the next five years.
- Six percent of respondents demonstrated an accurate understanding of how stablecoins work, according to Visa.
- Forty-nine percent of respondents aware of stablecoins believed they could only be used to buy and sell other cryptocurrencies.
